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Here is a quote from a discussion on this subject.
In response to your question regarding the flashpoint of a solution of 20% IPA, I am assuming that the IPA is either in water or fountain solution and it is by volume and not weight. In one study, a 20% concentration, the closed cup flashpoint was reported to be 87oF. Another study reported a flashpoint of 82oF. Neither of the studies reported what concentration of IPA would produce a closed cup flashpoint of 140oF. The lowest concentration tested was 5% by volume and both studies seem to agree 122.5 vs 123.8 oF. While it is not clear from your email why you are interested in this data, recognize that solutions containing less than 25% alcohol are not considered a hazardous waste due to the characteristic of ignitability (flashpoint < 140oF).